ELEMENT 25 LIMITED — Director's Dealing 2015

Nov 24, 2015

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	MONTEZUMA MINING COMPANY LTD
ABN	16 119 711 929

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Seamus Cornelius
Date of last notice	18 November 2014

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	(a) Direct (b)–(c)Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	(b) Held by Sino West Assets Limited, a company associated with Mr Cornelius (c) Held by Kongming Investments Limited, a company associated with Mr Cornelius
Date of change	20 November 2015
No. of securities held prior to change	(a) 12,500 Ordinary fully paid shares (b) 1,019,137 Ordinary fully paid shares (c) 2,032,588 Ordinary fully paid shares 500,000 Unlisted options (80 cents, expiry 30/11/2015) 750,000 Unlisted options (32.5 cents, expiry 30/11/2016) 750,000 Unlisted options (38 cents, expiry 30/11/2017) 500,000 Unlisted options (20 cents, expiry 19/11/2018) 750,000 Unlisted options (21.5 cents, expiry 18/11/2019)
Class	Unlisted options
Number acquired	(a) 500,000 Unlisted options (35 cents, expiry 20/11/2020)
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	(a) 12,500 Ordinary fully paid shares 500,000 Unlisted options (35 cents, expiry 20/11/2020) (b) 1,019,137 Ordinary fully paid shares (c) 2,032,588 Ordinary fully paid shares 500,000 Unlisted options (80 cents, expiry 30/11/2015) 750,000 Unlisted options (32.5 cents, expiry 30/11/2016) 750,000 Unlisted options (38 cents, expiry 30/11/2017) 500,000 Unlisted options (20 cents, expiry 19/11/2018) 750,000 Unlisted options (21.5 cents, expiry18/11/2019)

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Issue of unlisted options pursuant to shareholder approval at the Annual General Meeting held on 20 November 2015.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

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John Ribbons Company Secretary 25 November 2015

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	MONTEZUMA MINING COMPANY LTD
ABN	16 119 711 929

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Justin Brown
Date of last notice	18 November 2014

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	(a) Direct (b)–(c)Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	(b) Held by Aradia Ventures Pty Ltd, a company associated with Mr Brown (c) Held by Mr Brown’s spouse
Date of change	20 November 2015
No. of securities held prior to change	(a) 62,500 Ordinary fully paid shares (b) 4,037,500 Ordinary fully paid shares 500,000 Unlisted options (65 cents, expiry 30/11/2015) 500,000 Unlisted options (80 cents, expiry 30/11/2015) 1,500,000 Unlisted options (32.5 cents, expiry 30/11/2016) 1,500,000 Unlisted options (38 cents, expiry 30/11/2017) 1,000,000 Unlisted options (20 cents, expiry 19/11/2018) 1,250,000 Unlisted options (21.5 cents, expiry 18/11/2019) (c)12,500 Ordinaryfully paid shares
Class	Unlisted options
Number acquired	(b) 1,000,000 Unlisted options (35 cents, expiry 20/11/2020)
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change (a) 62,500 Ordinary fully paid shares (b) 4,037,500 Ordinary fully paid shares 500,000 Unlisted options (65 cents, expiry 30/11/2015) 500,000 Unlisted options (80 cents, expiry 30/11/2015) 1,500,000 Unlisted options (32.5 cents, expiry 30/11/2016) 1,500,000 Unlisted options (38 cents, expiry 30/11/2017) 1,000,000 Unlisted options (20 cents, expiry 19/11/2018) 1,250,000 Unlisted options (21.5 cents, expiry 18/11/2019) 1,000,000 Unlisted options (35 cents, expiry 20/11/2020) (c) 12,500 Ordinary fully paid shares Nature of change Issue of unlisted options pursuant to shareholder approval at Example: on-market trade, off-market trade, exercise of the Annual General Meeting held on 20 November 2015. options, issue of securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

==> picture [137 x 54] intentionally omitted <==

John Ribbons Company Secretary 25 November 2015

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	MONTEZUMA MINING COMPANY LTD
ABN	16 119 711 929

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Ribbons
Date of last notice	18 November 2014

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	(a) Direct (b)Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	(b) Held by Mr Ribbons’ spouse
Date of change	20 November 2015
No. of securities held prior to change	(a) 500,000 Unlisted options (65 cents, expiry 30/11/2015) (b) 500,000 Ordinary fully paid shares 500,000 Unlisted options (80 cents, expiry 30/11/2015) 750,000 Unlisted options (32.5 cents, expiry 30/11/2016) 750,000 Unlisted options (38 cents, expiry 30/11/2017) 500,000 Unlisted options (20 cents, expiry 19/11/2018) 750,000 Unlisted options (21.5 cents, expiry18/11/2019)
Class	Unlisted options
Number acquired	(b) 500,000 Unlisted options (35 cents, expiry 20/11/2020)
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	(a) 500,000 Unlisted options (65 cents, expiry 30/11/2015) (b) 500,000 Ordinary fully paid shares 500,000 Unlisted options (80 cents, expiry 30/11/2015) 750,000 Unlisted options (32.5 cents, expiry 30/11/2016) 750,000 Unlisted options (38 cents, expiry 30/11/2017) 500,000 Unlisted options (20 cents, expiry 19/11/2018) 750,000 Unlisted options (21.5 cents, expiry 18/11/2019) 500,000 Unlisted options (35 cents, expiry20/11/2020)

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Issue of unlisted options pursuant to shareholder approval at the Annual General Meeting held on 20 November 2015.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

==> picture [162 x 64] intentionally omitted <==

John Ribbons Company Secretary 25 November 2015

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011